By Andrei Skvarsky.
Russia’s Renaissance Capital (RenCap) has made a hire for its research team for Sub-Saharan Africa, handing responsibility for industrials and consumer sector coverage to Adedayo Ayeni, previously an analyst at an African subsidiary of Portugal’s third-largest listed bank.
Ayeni has more than seven years’ experience of analysing consumer sectors in southern Africa, and has been ranked by Bloomberg as one of the best analysts covering leading companies in that region, according to a statement from RenCap, which is a key Russian privately owned investment bank focusing on emerging and frontier markets.
Ayeni spent more than a year at Banco Português de Investimento (BPI) Capital Africa, a subsidiary of Banco BPI, in Cape Town as an equity analyst with a specialism in cement production and consumer markets.
Before that, he worked for Hong Kong-headquartered brokerage and consultancy CSL Securities, where he oversaw research into palm oil markets and organised consumer sector studies, RenCap said.
Earlier on, he was an analyst at Financial Derivatives Company, a Lagos-based research and consultancy firm.
Ayeni reports to Michael Harris, RenCap head of research, and Temi Popoola, the Russian bank’s chief executive for Nigeria.